What is Sonic Labs (Fantom) ($S)?

Sonic Labs has evolved from the former Fantom Foundation, focusing on the expansion of applications, partnerships, and user engagement. This organization manages the Sonic chain, a novel layer-1 platform that facilitates a secure portal to Ethereum, featuring impressive capabilities of over 10,000 TPS and transaction confirmations that occur in one second. The Sonic ecosystem is bolstered by a significant incentive structure, which includes the native S token that facilitates staking and various reward programs.

What is the Sonic Labs ($S) Token?

The Sonic Labs (Fantom) ($S) token serves as the native currency of the Sonic ecosystem, characterized by several essential features:

• Native Currency: The $S token functions as the primary currency within the Sonic network, playing key roles such as facilitating staking and covering transaction costs.
• Staking Incentives: Validators who stake $S tokens can receive both block rewards and transaction fees, with potential reward rates reaching 3.5% once 50% of the network’s total supply is staked.
• Supply Adjustment: Upon launch, a total of 3.175 billion $S tokens will be available, equal to the supply of FTM tokens, which can be exchanged on a 1:1 basis.
• Inflation Management: While additional tokens will be minted for designated programs, any that remain unallocated will be burned to mitigate inflation concerns.

According to official documentation, 6% of the total 3.175 billion $S tokens will be minted six months post-launch, solely for inclusion in the airdrop initiatives that aim to reward both users and developers within the Sonic ecosystem.

How to Participate in the Sonic Labs (Fantom) ($S) Token Airdrop?

If you’re eager to partake in the potential Sonic Labs (Fantom) ($S) token airdrop, follow these steps:

1. Become a Developer for Sonic Labs:If you hold the necessary technical skills, consider applying for the Developer’s Path at Sonic Labs. The Sonic Boom initiative offers up to thirty winning projects the opportunity to receive airdrops as rewards for utilizing their applications. The application window opened on August 20th and will close on November 1, 2024, with winners announced shortly after.
2. Engage in the Road to Sonic Galxe Quest:This quest features six series of diverse tasks, encompassing activities such as asset bridging, trading, and social media challenges. Tasks must be completed by the end of October 2024.
3. Road to Sonic Galxe Quest: Series 1:Bridge a minimum of 50 USDC from Ethereum to Fantom using the Wormhole portal. Note that you will require FTM tokens for transaction fees.
4. Road to Sonic Galxe Quest: Series 2:Involve yourself in perpetual trading on the Lynx platform. Maintain records of your trade progress, ensuring you have FTM tokens for transaction fees.
5. Road to Sonic Galxe Quest: Series 3:Deposit at least 20 FTM on Polter Finance, as well as trade 30 FTM on the Degen Express platform while holding 200 $sFTMx.
6. Road to Sonic Galxe Quest: Series 4:Complete at least $20 worth of asset swaps on Spooky Swap v3. Also, make a purchase from the in-game shop in Estfor Kingdom and invest $100 worth of assets in a single transaction within the USDC.e/sFTMx pool, alongside other social tasks.
7. Play the Sonic Arcade Game:Starting September 30, 2024, begin accumulating points through the Sonic Arcade game. Connect your wallet at airdrop.soniclabs.com and input the invite code VRNKTI to start playing.
8. Add Sonic Testnet to Rabby Wallet:It is advisable to download and set up the Rabby wallet. Afterward, proceed to add the testnet and connect your wallet.
9. Acquire Testnet $TOKEN:Obtain testnet $TOKEN from their faucet, which is necessary for participating in the gaming point system. A maximum of 420 $TOKEN can be requested weekly.
10. Play Games:Compete in each of the three games available twenty times a day to accumulate points for the Sonic ($S) token airdrop.
11. Earn Passive Sonic Points:To passively earn Sonic Points for the airdrop, retain whitelisted assets in your Rabby, MetaMask, or hardware wallets. Some assets provide point multipliers in the initial three months post-launch of Sonic’s mainnet. However, staked S tokens through MySonic do not qualify.
12. Collect Activity Points:To earn Activity Points for the airdrop, deploy the aforementioned whitelisted assets as liquidity on designated applications, which are enumerated on your dashboard. Ensure you click “AP Points” to filter the dApps accordingly.
13. Accumulate App Points (Gems):If you’re a developer, creating an app for Sonic allows you to gain App Points (Gems) that can be exchanged for S tokens, which app developers will distribute to users. Each application establishes its own points program based on liquidity deployment and duration.